Metals price index

The tariffs imposed by the Trump administration on steel, aluminum, and imports from China have not taxed American consumers. The Labor Department said Wednesday that its Consumer Price Index was flat last month and consumer prices are up just 2.2 percent compared with a year ago. That’s a deceleration of price pressure from October when prices were up 2.5 percent compared with the prior year.Excluding volatile food and energy doesn’t change the picture very because core inflation was also very low. Core CPI climbed just 0.2 percent for the month and is up 2.2 percent from a year ago. That is in-line with October’s 2.1 percent and September’s 2.2 percent 12-month increases. Wages are rising. After adjusting for inflation, average hourly earnings rose a seasonally adjusted 0.3 percent in November compared with the prior month. Compared with a year ago, average hourly earnings rose 0.8 percent. But the average workweek declined in November, so average … [Read more...] about Still No Pressure on Consumer Prices from Tariffs

LONDON (Reuters) - UK shares fell on Friday, ending two days of gains and taking their lead from weaker U.S. and Asian markets overnight after a hawkish Federal Reserve statement renewed worries about an imminent interest rate hike and weak metals prices weighed. The FTSE 100 <.FTSE> was down 0.6 percent by 1027 GMT, while the domestically focussed mid-cap index was 0.5 percent lower as negative sentiment on Wall Street and in Asia spilled over across European bourses. The blue-chip index was on track though for a small gains on the week as it continued to recoup ground lost in October. As the pace of earnings releases slows, investors focussed on news that U.S. Federal Reserve held interest rates as widely expected but indicated it was set for another rate hike in December despite worries about the U.S.-China trade war and political uncertainty. "Stock markets are lower this morning as fears persist about further interest rate hikes from the Federal Reserve," said David Madden, … [Read more...] about FTSE falls as Fed stalls election rally; miners sink on weak prices

Marley Jay AP Markets Writer Published 3:30 PM EDT Sep 12, 2018 New York – U.S. market indexes are mostly lower in wobbly trading Wednesday as weakness in technology companies cancels out gains in energy stocks and elsewhere in the market. The market staged a brief rally around midday following a report that the U.S. was seeking new trade talks with China. Chipmakers are falling, while Apple is moving lower as it announced updates to iPhones and Apple Watches. Energy companies are rising as U.S. crude oil reaches its highest price since July. KEEPING SCORE: The S&P 500 index fell 2 points, or 0.1 percent, to 2,885 as of 3 p.m. Eastern time. The Dow Jones Industrial Average slipped 6 points to 25,964. The Nasdaq composite slid 38 points, or 0.5 percent, to 7,934 as technology companies declined. The Russell 2000 index of smaller-company stocks lost 3 points, or 0.2 percent, to 1,714. OIL: Oil prices built on Tuesday’s gains, and U.S. crude hit its highest price … [Read more...] about Flickering trade hopes and tech losses hit US indexes

A measure of U.S. business prices unexpectedly dropped in August, the latest sign that trade disputes and rising tariffs are not creating significant inflation pressures in the economy. The producer-price index, which measures prices domestic U.S. businesses receive for their goods and services, fell a seasonally adjusted 0.1 percent in August from a month earlier, the Labor Department said Wednesday. This is the first monthly decline since the 0.1 percent drop in February 2017.Economists had forecast a 0.2% increase. Many economists have been predicting that rising U.S. tariffs would drive prices higher for U.S. consumers, with some describing tariffs as a “tax on consumers.” The PPI data suggest that businesses are paying higher prices for some materials but are not passing those price hikes on to consumers. The report adds credibility to the Fed’s view that tariffs are not yet driving up consumer prices. Prices lower down in the production chain of materials and … [Read more...] about Narrative Fail: Business Prices Fall Despite Rising Tariffs